ADIA in Discussions to Sell Hong Kong Hotel Stake
The Abu Dhabi Investment Authority (ADIA) is reportedly in talks to sell its 50% stake in the Hyatt Regency hotel in Kowloon, Hong Kong, to Singapore's UOL Group, alongside New World Development's stake.
The Abu Dhabi Investment Authority (ADIA) is reportedly engaged in confidential discussions to divest its 50% ownership in the Hyatt Regency hotel in Kowloon, Hong Kong. These talks involve a potential sale to UOL Group, a Singaporean company. New World Development, which holds the other 50% stake in the hotel, is also negotiating to sell its share to UOL.
The proposed transaction would value the Hyatt Regency hotel at approximately HK$3 billion (US$382 million). This move by New World Development is part of a broader strategy to improve its financial liquidity, following a prolonged property market slowdown in mainland China and Hong Kong that has burdened the developer with debt.
While the discussions are ongoing and the terms of the deal are subject to change, this potential sale highlights New World's efforts to streamline its portfolio. The company has been exploring various options to raise capital, including a recent approval for a real estate investment trust (REIT) listing in mainland China, projected to generate US$484 million in net proceeds.
Questions, answered
- Which hotel is involved in the potential sale?
- The potential transaction concerns the Hyatt Regency hotel located in Kowloon, Hong Kong.
- What is the estimated value of the hotel in this potential deal?
- The Hyatt Regency hotel is valued at approximately **HK$3 billion**, which translates to about **US$382 million**, according to those familiar with the confidential talks.
- Who are the current owners of the hotel?
- The hotel is currently jointly owned by the Abu Dhabi Investment Authority (ADIA) and New World Development, each holding a 50% stake.
- Which company is looking to acquire the hotel stakes?
- Singapore-based **UOL Group** is in discussions to acquire the stakes from both ADIA and New World Development.
This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.
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